THE weekly US inventory data may have shown a surprise build up in oil stocks, but with global demand set to keep ticking higher as the recovery gains pace then yesterday’s dip back to the $86 per barrel mark is likely to be nothing more than a short-term blip. Oil at $100 could be around the corner. The current IG Index price for May Nymex crude oil is $86.01-$86.07.
Gold has been the chief beneficiary from growing fears about Greece’s solvency. The precious metal is testing resistance at around $1,140-$1,145 and a push above here could mean a test of the $1,160 level. Capital Spreads quotes a price of $1,136.2-$1,136.7.
Man Group, the alternative investment management business, had a torrid 2009 but the company’s fortunes are improving. It recently won a $1bn mandate with the Universities Superannuation Scheme, one of the UK's largest final-salary pension plans, to run its managed account platform. The group’s financial fundamentals remain strong, it has a net cash position of $1.5bn. This puts Man Group in a good position to make acquisitions this year and grow the business. CMC Markets offers a spread on Man Group of 267.39p-267.41p.